New York, May 16, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ultrasound Systems Devices And Equipment Global Market Report 2022" - https://www.reportlinker.com/p06277187/?utm_source=GNW
The global ultrasound systems devices and equipment market is expected to grow from $9 billion in 2021 to $9.72 billion in 2022 at a compound annual growth rate (CAGR) of 8.0%. The market is expected to grow to $12.4 billion in 2026 at a compound annual growth rate (CAGR) of 6.3%.
The ultrasound devices and equipment market consist of sales of ultrasound devices and equipment and related services. Ultrasound systems are machines used to see internal body structures based on the ultrasound application.
The main types in the ultrasound devices and equipment are diagnostic ultrasound systems and therapeutic ultrasound systems.Diagnostic ultrasound systems are used in examining the internal organs.
The various products are A-Mode, B-Mode or 2D Mode, C-Mode, M-Mode, Doppler mode, pulse inversion mode, and harmonic mode. These are used by hospitals, diagnostic imaging and surgical centers, ambulatory surgical centers (ASCs), and clinics.
Western Europe was the largest region in the ultrasound devices and equipment market in 2021.North America was the second largest market in ultrasound devices and equipment market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Government and private funding in ultrasonic device manufacturing companies are driving the growth of the ultrasound systems device and equipment market.The investments by private firms as well government would provide adequate capital for the ultrasonic device manufacturing companies to conduct research and development and develop innovative and advanced ultrasound devices.
For example, Chinese ultrasonic companies like Sonoscape, Mindray, and SIUI have benefitted from a government initiative to boost local manufacturers.Also, Private equity firm KKR decided to invest $35 million in Australia’s ultrasound device maker Signostics Ltd.
Hence, this funding would not only encourage innovative devices but boost the market as well.
Strict approvals and regulations by government bodies such as US Food and Drug Administration (FDA) is hampering the growth of the Ultrasound system devices and equipment market.The manufacturers are required to comply with several regulations in the form of device quality check, labeling, premarket approval, device investigation, and reporting, apart from the regular registration process.
Such excessive, strict, and rigid regulations are restraining the market’s growth.Due to these stringent regulations, many manufacturers prefer to outsource the manufacturing to other countries where no such regulations are imposed.
For example, FDA rejected the launch of EDAP TMS’s latest High-Intensity Focused Ultrasound (HIFU) device stating safety concerns.
The introduction of the 3D/4D Ultrasound devices is the latest trend that is going to change the landscape of ultrasound devices and the equipment market.The 3D/4D technology ultrasound device provides real-time enhanced imaging of the internal anatomy/fetus, also enabling real-time volume imagining.
This technology can also help in performing complex surgeries.The 3D/4D ultrasound device would also feature improved image visualization power, shorten examination time and decrease strain injury during the surgery.
For example, Toshiba’s Aplio i900 Ultrasound machine makes use of the 3D/4D technology.
The safety and effectiveness of ultrasound system devices and equipment is heavily monitored and regulated across the world.In 2019, according to the government of Canada, there are some guidelines and regulations for the safe use of ultrasound therapy devices.
It recommends that the ultrasound therapy devices should be calibrated by suitably trained personnel once each month.The Canadian Ultrasound Therapy Devices Regulation (Footnote75) was promulgated under the Radiation Emitting Devices Act to ensure that the new devices can deliver prescribed exposures.
These stringent regulatory policies may impact the ultrasound system devices and equipment market in Canada, one of the fastest-growing markets.
The countries covered in the ultrasound devices and equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, USA, and Australia.
Read the full report: https://www.reportlinker.com/p06277187/?utm_source=GNW
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